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MARTEK BIOSCIENCES CORPORATION ANNOUNCES INITIAL PUBLIC OFFERING

 COLUMBIA, Md., Nov. 23 /PRNewswire/ -- Martek Biosciences Corporation (NASDAQ: MATK) announced today the initial public offering of 2,000,000 shares of its Common Stock at a price of $7 per share. Hambrecht & Quist Incorporated, Bear, Stearns & Co. Inc. and Salomon Brothers Inc. acted as managing underwriters. The company expects to use the net proceeds of the offering for research and development, capital expenditures, working capital and general corporate purposes.
 Martek is a leader in the development and commercialization of products derived from microalgae. Through its unique and proprietary culturing technologies, Martek has pioneered the commercial exploitation of microalgae for a broad portfolio of high-value products and product candidates, including nutritional supplements for infant formula, stable isotope biochemicals for use in molecular research, various breath test diagnostics and potential pharmaceuticals.
 -0- 11/23/93
 /CONTACT: Steve Dubin, CFO, of Martek Biosciences, 410-740-0081/
 (MATK)


CO: Martek Biosciences Corporation ST: Maryland IN: MTC SU: OFR

IH-DS -- DC016 -- 7235 11/23/93 11:37 EST
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Publication:PR Newswire
Date:Nov 23, 1993
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